Legal Definitions - correi credendi

Correi credendi refers to the legal concept of joint creditors. This describes a situation where multiple individuals or entities collectively hold a single claim against a debtor. In such a scenario, each of the joint creditors has the right to demand the full performance or payment from the debtor, and a complete payment made to any one of them typically satisfies the entire obligation for all.

Here are some examples to illustrate this concept:

• Family Loan: Imagine three siblings, Anna, Ben, and Carla, decide to jointly lend their cousin David $30,000 to start a new business. David signs a single promissory note acknowledging his debt of $30,000 to Anna, Ben, and Carla collectively. In this situation, Anna, Ben, and Carla are correi credendi. Any one of them—Anna, Ben, or Carla—has the right to demand the full $30,000 repayment from David. If David pays the entire $30,000 to Anna, his debt is considered fully discharged to all three siblings.

• Business Partnership Payment: A small graphic design studio, owned equally by partners Sarah and Tom, completes a large branding project for a client. The client owes the studio $12,000 for the services rendered. Sarah and Tom, as the partners, are correi credendi for this payment. Either Sarah or Tom can individually contact the client and demand the full $12,000 payment. Once the client pays the full amount to either Sarah or Tom (or the studio's joint account), the client's obligation to the partnership is satisfied.

• Co-owned Property Sale: Eleanor and Fred jointly own a vacation home and decide to sell it to a buyer. The sales contract specifies a final payment of $50,000 due upon closing. Eleanor and Fred are correi credendi regarding this final payment. The buyer owes the $50,000 to both of them collectively. Either Eleanor or Fred can receive the full $50,000 from the buyer, and by doing so, the buyer's financial obligation for the property is fully met for both co-owners.